This comes as a number of high-profile Indian startups have seen their valuations reduced by investors due to deteriorating global market conditions. However, it is noted that a significant valuation adjustment by a single investor may not necessarily reflect the views of other investors.
Key takeaways:
- Vanguard has cut the worth of its holding in Indian ride-hailing startup Ola by more than half, marking down its Ola shares to $25 million from the original $51.7 million purchase price.
- This reduction implies a decrease in Ola's valuation to approximately $3.5 billion, down from $7.3 billion at the end of 2021.
- Ola's co-founder, Bhavish Aggarwal, has established an AI startup and is considering acquisitions of two U.S.-based AI startups, as well as venturing into the semiconductor design space.
- Other high-profile Indian startups have also seen their valuations reduced by investors, highlighting the impact of deteriorating global market conditions on Indian startups.